Bessemer Group Inc. Sells 451,307 Shares of Hecla Mining Company $HL

Bessemer Group Inc. decreased its position in shares of Hecla Mining Company (NYSE:HL) by 42.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 600,901 shares of the basic materials company’s stock after selling 451,307 shares during the period. Bessemer Group Inc.’s holdings in Hecla Mining were worth $11,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in HL. Arrowstreet Capital Limited Partnership lifted its stake in Hecla Mining by 86.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,715,100 shares of the basic materials company’s stock worth $244,003,000 after purchasing an additional 5,906,313 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Hecla Mining by 40.6% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,052,346 shares of the basic materials company’s stock valued at $102,144,000 after purchasing an additional 4,928,130 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Hecla Mining during the 4th quarter worth $88,417,000. State Street Corp raised its holdings in shares of Hecla Mining by 14.8% during the 3rd quarter. State Street Corp now owns 34,485,817 shares of the basic materials company’s stock worth $417,278,000 after buying an additional 4,453,706 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Hecla Mining by 14.7% during the 2nd quarter. Tidal Investments LLC now owns 20,118,397 shares of the basic materials company’s stock worth $120,509,000 after buying an additional 2,574,855 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HL. Scotiabank reduced their price objective on Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings downgraded Hecla Mining from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, June 5th. Wall Street Zen cut shares of Hecla Mining from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Canaccord Genuity Group upgraded shares of Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Wednesday, April 29th. Finally, HC Wainwright decreased their price target on shares of Hecla Mining from $36.50 to $26.75 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.12.

Hecla Mining Stock Up 0.5%

Shares of HL opened at $14.40 on Monday. Hecla Mining Company has a 52 week low of $5.62 and a 52 week high of $34.17. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 35.12 and a beta of 1.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.53 and a current ratio of 4.94. The stock has a fifty day moving average of $16.38 and a 200-day moving average of $19.62.

Hecla Mining (NYSE:HL) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). The firm had revenue of $411.43 million for the quarter, compared to analyst estimates of $407.63 million. Hecla Mining had a net margin of 17.41% and a return on equity of 16.89%. The company’s revenue was up 57.4% compared to the same quarter last year. During the same period last year, the business earned $0.04 EPS. As a group, sell-side analysts anticipate that Hecla Mining Company will post 0.47 earnings per share for the current fiscal year.

Hecla Mining Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd were given a $0.0038 dividend. The ex-dividend date was Friday, May 22nd. This represents a $0.01 annualized dividend and a yield of 0.1%. Hecla Mining’s dividend payout ratio (DPR) is currently 2.44%.

Hecla Mining Profile

Hecla Mining Company, founded in 1891 and headquartered in Coeur d’Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d’Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.

The company’s principal operations are located in North America and Latin America.